Steel prices to edge lower by FY18 end: SP Global Platts
Global metal prices trade mixed even as trade war fears ease. Strength in equity market is also supporting metals prices and the long term outlook on demand growth is positive. In an interview with CNBC-TV18, Paul Bartholomew, Senior Managing Editor at S&P Global Platts shared his readings and outlook on the same.
We are seeing steel prices coming off a bit and also iron ore prices as well, the problem is when you have that sort of uncertainty in the market, what happens to the buyers and sellers of these materials tend to wait on the side-line a bit until they know what is going to happen, he said.
India is not too worried about the exports for the US because Indian domestic demand is supposed to be fairly robust this year in the year before the election, he added.
On global steel prices, he said that it would be lower towards the end of this year, FY18.
For full interview, watch accompanying video…